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NOTABLE! What is the WORST "value" you ever paid for?

Discussion in 'Lessons from Success/Failure' started by MJ DeMarco, Apr 11, 2018.

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  1. Argue
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    Argue Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Ha, damn this thread gives me bad memories.

    A few months back, my normal barber who I've been going to for years, went on vacation.

    So I had no choice and got my haircut at a different barbershop. Damn, this barber did a horrible job cutting my hair and gave me the Lebron hairline. It was bad. My girl couldn't stop laughing. :bored:

    [​IMG]

    My self-esteem tanked faster then bitcoin. :rofl:
     
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  2. MidwestLandlord
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    MidwestLandlord Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Tech Support

    I was forced to buy tech support for my point of sale systems at my last business. $1,500 per year per location.

    The only techs in my area that were capable of working on them refused to do work for me if I didn't have the tech support, and the POS brand would not sell parts to me if I did not buy it.

    Nobody could speak English.
    LONG wait times.
    Their only solution was to restart it or dispatch a tech.
    Often had LONG downtime's due to their incompetence.
    They password protected my system with a daily changing password that I was not privy to. (couldn't even restart it without the password)
    They couldn't bill me for their own service correctly.
    It cost more if I did not pre-pay an entire year in advance.

    Horrible service from a terrible company that built a sh*t POS to begin with. But, they dominate the market anyway...
     
  3. JAJT
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    JAJT Ha Ha! Business Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Oh I have another - my GS1 account.

    It costs me $565 per year in Canada for this "privilege" and all they do is give me official account/product numbers so that anyone can look them up to make sure my barcodes are legit.

    Things they hilariously don't do:

    - Generate the numbers for you (they have a tool that lets you generate them one at a time, after you enter certain information into it, and they give you the math needed to figure it out yourself, but they don't give you any kind of tool to generate all the codes you are entitled to - if you do it in excel you need to figure out the convoluted formula yourself)
    - Generate the barcode images for you (they give some links to software and services that either don't work, or cost even more money).
    - Tell you ANYTHING about what you should use for what applications (you have a physical product and want to know what images to produce to put on your box? Good luck. With that.) .
    - Offer any real help of any kind, whatsoever. Their staff are clueless.

    I posted a large write-up on this on the inside in my progress thread because of how annoying the whole process was. The fact that it's one of the most expensive services I pay for in the year is infuriating.

    Many larger businesses won't look at you if your barcodes don't match GS1 registration information and all the cheap sites are just re-selling expired numbers that match up to random companies/products in the database so there really is no other options here. I've heard even Amazon is starting to look at this seriously (don't quote me on that - I recall reading about it in my research but don't recall exactly the details).
     
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  4. Fox
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    Fox Moderator Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Two years ago I was trying to arrange for a paid shout out on Instagram to promote an app I had.
    I contacted some big pages with 500k - 1 million followers. I also contacted some smaller ones.
    I was new to IG shout outs so in my message I said to email me (not DM me back) if they wanted to work with me.

    I got one email which appeared to be from the biggest page that had insane engagement. I couldn't believe it. We worked out a deal for 500 dollars and I was counting up all the money I would instantly make back. But...

    Turns out it was the smallest page I had contacted since there was a one letter different in their usernames lol. I paid $500 to promote one post (for two hours!!!) on a page with maybe 20 likes per pic haha. I was actually impressed they had the balls to ask for that much. 500 isn't a lot now but at the time this was like half my marketing budget. I was so pissed but completely my own fault.

    I think that is my biggest waste of money ever. $500 for 2hours, 12 likes, and no sales.
     
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  5. Argue
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    Argue Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Lmao that sucks. Every marketing dollar counts and that hurts so bad haha. Definitely a great learning experience we can learn from tho.
     
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  6. Rachel888
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    Rachel888 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Paid hundreds of $$ summer after summer to fix the A/C in my car. Not only was it a waste of money but caused me unnecessary frustration/anger.

    Last March I finally bought a new (used) car 2015 Honda Civic, paid for in cash! Best money spent ever!
     
  7. G-Man
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    G-Man Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Internal Auditing classes. Several hundred dollars plus a huge time investment, for the "payoff" of doing work I hate for only nominally more money, all because I listened to some HR bimbo prattle on about how "adding credentials like this are good for your career".

    I would have been better off spending that time and money in a casino. No exaggeration. I would still have wasted time and money, but I would have been a lot less stressed.

    While I'm ranting, "career" is a word invented to delude you into forgetting you just have a job. Somewhere, there's a poor 22 year old that thinks spending the next 10 years in SOX compliance will make him happier, and the world a better place. All because we let teachers and HR people, who collectively represent nature's C students, make up words like "career"

    /rant over
     
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  8. Xeon
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    Xeon No cars for me except Pagani. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Guru ebooks and "systems" for sure. What a f***ing waste of money lol. Learnt absolutely nothing from them.
     
  9. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    Me: "Ok, NYT Best-Selling author, and Costco is selling it! It has to be good!"

    Got to be the worst book I ever read.

    And it wasn't the 7 bucks, it was the 7 hours that I spent discovering it was the worst book I ever read.

    Looking to read something where absolutely nothing really happens? No suspense? No thrills? No real pressing mystery that anyone gives as sh*t about? This is your book.


    IMG_0254.JPG
     
  10. csalvato
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    csalvato Platinum Contributor Read Millionaire Fastlane Speedway Pass Summit Attendee

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    lol i usually stop reading books like that halfway through. If it's fiction, it's got to grip me like a motherfucker.
     
  11. Limitless4Life
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    Bottle(s) of Jack Daniels
     
  12. CPisHere
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    CPisHere Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    The WORST value I've ever paid for has ALWAYS been to serve my ego/get a 'magic pill'.

    -Any meal I've spent over $150 on. Literally never worth it.
    -Any 'education' product I didn't have immediate use for / got sold on due to copywriting
    -Every vitamin/supplement I've ever bought (with rare exception)
    -Most name brand products where value is the brand, not particularly different quality/appeal
    -Anything I ever bought because it was on sale, when I wouldn't have bought it otherwise

    Oh, and Bitcoin at $18k LOL (I actually think long-term it will turn out to be good, but thought I'd through it in here for fun).
     
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  13. CPisHere
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    CPisHere Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I found his Earn 1k Course immensely valuable, but that was before finding a lot of other material I know now about. Every other course I bought I had to ask for a refund until I finally realized he was a great copywriter that was selling super basic products and unsubscribed from his list.
     
  14. GPM
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    GPM Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    I have a naturally aspirated car, and I had a tune done on it last summer and a chip that squeezed out about another 30 HP. Makes the car a bit more fun to drive, but I now regret the cash spent on this. I have things in my life that are WAY more deserving of this money.
     
  15. NuclearPuma
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    NuclearPuma Bronze Contributor FASTLANE INSIDER Speedway Pass

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    I read a lot of Ramit's free stuff and kept hearing him keep talking about his "secrets" in his paid courses. And one day I was reading, or maybe it was an audiobook, and had the epiphany all his secrets can be found in books and $100 in books would probabaly be better than $1,000 in online classes. And it's also nuts because he charges way more than university tuition for some stuff.

    Ramit sells $100 bills for $50. At least he presents and markets it that way. But you could buy the $100 for only $.05 if you know where to look.
     
  16. Paolo Rizzo
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    Paolo Rizzo Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Note to self: stay away from Ramit Sethi courses.
     
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  17. Olimac21
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    Olimac21 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    What about Ramit books though? Are they worth it or also a waste of money?
     
  18. NanoDrake
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    NanoDrake Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    @MJ DeMarco general advise is don'ìt order Italian food that has the word "d1ck" in it :D :D :D :D
     
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  19. SouthernCharm
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    SouthernCharm Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I used to sign up for ticket presales for big names at major venues and then resell them for a profit once the general sales cycle began. The artists that appealed to older generations tended to go for a large premium. They couldn't be bothered to figure out Ticketmaster's frustrating presale process (or weren't capable) and didn't have the schedule flexibility and patience to sit, glued to their computers, at the appointed hour for the sale to begin. After time I became pretty decent at picking the concerts and venues that provided sizable returns. That is, until it came back to kick me in the a$$.

    I got presale access to an operatic singer at a major city which had historically sold very well. The trick with opera singers is getting the right seat location - even 10 rows difference in a standard section can have a substantial change in seat market value. When the sale started, I was presented row B seats in a section very close to the stage. I was pumped! I just knew those seats would turn to gold so I took a gamble and bought eight tickets for over $4k (this was a lot of coin for me at the time). But I was confident that the investment would pay off handsomely.

    Then when the time came to put the tickets back up for sale, the site showed me a snapshot of where the seats would be located relative to the stage. At first, I thought "whoa! must be something wrong here", but as I looked closer, this venue rows actually started out with double letters (AA, BB, CC, etc). So instead of being right in front of the stage, my row B seats ended up being around 20 rows back and almost behind the stage. This translated to terrible acoustics. Instead of going for a premium, these seats usually sold at a discount for normal concerts. For an operatic vocalist, the location was basically the pits. After all the purchase and resale fees, I ended up losing over $2k. I was devastated. It was a dumb mistake on my part, but it also helped me take a step back and realize I was spending a tremendous amount of time/effort for relatively inconsequential returns overall. Terrible investment of time and money.
     
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  20. sdbrownlie
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    sdbrownlie Building Links for SEO Peeps Read Millionaire Fastlane FASTLANE INSIDER

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    Mine is definitely '4 billion SAAS tools'. In the short term they all seem to serve a need/be useful for something you need right then. And you're sure you'll definitely use them a lot...

    Instead I end up burning $1k/year each for a bunch of 87-99/month tools that I barely use and end up canceling 1.5-2.5 years later.

    And they never even seem to really be exactly what the business or I personally needed anyway.

    It's been more useful to think about having things developed specifically (or coding them myself) for exactly what we need. It might have a 1+ year payback but in the long run it's a huge boost to cashflow vs just continually accumulating lumps of $1k/year extra cost.

    I'm disappointed in myself for letting a few slip through for longer than they should have. I used to play a lot of poker and everything is about those small edges - never bluff $50 if $47 has the same impact. All those $3 saved the times it doesn't work out add up over hundreds of thousands of hands played.
     
  21. ShieldMaiden
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    I bought a behemoth Garmin GPS for $1000 when it was new technology for a driving job and made monthly payments on an Amazon card. If you remember, it's that one you put on the dashboard that's weighted down by a sandbag. It was useful at the time, but I should've just used the Thomas Guide instead to save money. In retrospect it was my bad decision as I thought it was a need. I still have it, but it's worthless now.
     
    Last edited: Apr 16, 2018
  22. Tommo
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    Tommo Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    sorry mate i should of warned you. didn't know you liked fiction. try jeffery deaver lol
     
  23. CPisHere
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    CPisHere Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    He even admits that he has very simple material that can be found cheap elsewhere.

    His Consulting course, for instance, was like $2,000 & just videos of him talking through a Jay Abraham book you can get free.

    I never pay for information anymore (from him or anyone else). The real value is in personal, nuanced feedback from a master.
     
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  24. JAJT
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    JAJT Ha Ha! Business Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Food is never worth the price tag if you look at it like food.
    If you turn the food into an experience though - it's worth far more.

    I took my wife to the fanciest place in town for our 5 year anniversary.
    Cost $500+ for two adults.
    It consisted of a 12 course meal with wine pairings served by a sommelier who expertly explained every meal and wine choice, located in a beautiful restaurant with very limited seating overlooking the water and city. It was a VERY "white glove" experience.
    We got dressed up nice and made food the central part of a large experience.

    The experience was priceless and one of our favorite memories together. While $500 was expensive and more than I wanted to pay at the time, if you asked me what I'd pay to keep that memory I'd say it wasn't for sale at any price.

    Compare that to walking into a restaurant indifferently, seeing a $500 Wagyu steak and giving it a try, hoping the food is worth the price - you will never win that bet. The food will never be worth it without a strong experience to tie it to.
     
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  25. JAJT
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    JAJT Ha Ha! Business Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    No word of a lie, I believe EVERY high school graduate should be handed a copy of "I Will Teach You To Be Rich".

    The book is PURE gold for that age group (or adults who 'never learned') and fills in a LOT of gaps that formal education conveniently leaves out.

    I saved literally thousands buying my first new car using his email/fax strategy directly lifted from that book.
    I would also say that his book was the foundation for many of my current-day thoughts on money/debt in many different ways. Some of his strategies helped me get out of DEBT very, very fast when I got into some trouble when I was a young adult.

    Regarding his courses - I never paid for them because I understood what they were (because he told everyone up front): psychological accountability. You value the things you pay for and tend to follow through on those things better than free information. I believe he even said many multiple times that he charges an arm and a leg for even some "simple" things because the people who pay that will tend to follow through better and have a higher chance to succeed.

    Ramit is FANTASTIC with numbers and psychology. Honestly I've loved just about every blog post the guy writes. You can learn a TON by watching what he does. I'm kind of surprised he doesn't have a $20k mastermind (maybe he does now?) because he could easily fill the seats with his copy and funnels.

    The issue with Ramit is he is not an appropriate source of information for learned entrepreneurs. His target market seems to be lost souls with no financial background, little discipline, who want to get their sh*t together and maybe make a few bucks on the side. I'd say he probably does that excellently.

    Nobody on this forum should pay for his courses at this point. I'd say his book is really worth it but likely not for an adult who has their sh*t together.
     
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